empty
 
 
04.06.2021 11:02 AM
GOLD Tumbles Ahead Of NFP!

Gold is trading a bit higher right now, trying to recover a little after yesterday's sell-off. It's trading at 1,874.69 level above 1,856.04 yesterday's low. Technically, the yellow metal could come back to test and retest the immediate resistance levels before dropping again.

The price of gold could extend its drop if the US NFP, Unemployment Rate, and the Average Hourly Earnings log better than expected data later today. The current gold rebound could end anytime as the pressure remains high.

XAU/USD is located in the seller's territory, so it could decline further. Actually, a corrective phase was somehow expected after the most recent swing higher.

XAU/USD Temporary growth!

This image is no longer relevant

Gold has found support at the S2 (1,856.18) and now it approaches the S1 (1,880) static resistance. The pressure remains high as long as it stays under this obstacle and below the median line (ml).

A failure to reach the ascending pitchfork's upper median line (uml) or to stabilize above the 1,900 signaled an overbought situation. Now, its drop below the median line (ml) could really signal a corrective phase.

Technically, the rate could increase to test and retest the median line, S1, or 1,890.14 before moving down towards 1843.

Forecast!

Dropping below the median line (ml) signaled that the price of gold could develop a broader decline. A correction was expected after the last strong growth. Retesting the immediate resistance levels could bring us a good selling opportunity.

A new swing higher could be signaled by a false breakdown with great separation below 1,843.40, sl, or below the lower median line (lml).

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback